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20121207
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in federal spending begin with the fiscal cliff will put us in a recession. then we have got the debt ceiling limit which is mid-february, early march. we need to wrap all of this up into a common sense bipartisan grand bargain. just game this out by saying we are going to dive off the fiscal cliff, putting americans out of work, damage our economy or putting us in a recession or worse is profoundly irresponsible. megyn: what do you make of his request to cut congress out with respect to the debt limit. your thoughts on that? >> it's outrageous it's like say we maxed out our credit card so i'm going to get a new credit card with no limit so i can keep spending. there needs to be some accountability here. so far we are spending 42 cents out of every dollar in washington in borrowed money. that's money our kid and grandkids are going to have to pay back. that's a crazy idea. and i'm amazed at secretary geithner had the courage to float that yesterday hence the laughter from senator mcconnell. i think that's the kind of response it deserved. megyn: the president want tax rates to be hiked on the
. if it is not extended because of the fiscal cliff, debt relief will become taxable again and that will affect thousands and thousands of short sales and principal reduction loan modifications many under the big robo signing mortgage settlement. that settlement is why short sales have skyrocketed, surpassing foreclosure sales last june and keep on going. in nevada they made up 40% of october sales up from 34% a year ago. that according to lps home price index. now bank of america alone has done over 100,000 short sales so far this year. and i spoke to a rep there who says they are well aware of the potential looming tax risks as are their customers. they say they would love to ramp up short sales but they're already doing them as fast as they can. i ask what happens if the tax relief is not extended? the source told me i would expect we start to get more customers saying i've talked to my tax adviser and i'm going to opt out of that short sale and we'll just take it to foreclosure. and, carl, that is exactly not what we want to hear as this housing recovery is really just gaining steam. >> wow. in your
on the debt. >>> all the numbers indicate that going off the fiscal cliff would hurt the u.s. economy in the short term. but could it be the best thing in the long run? going off that fiscal cliff. to this point most of the conversation has been focused on what happens in january, and for good reason. there's no deal in congress. tax rates go up for a lot of folks, all americans. and a $1.2 trillion worth of defense and spending cuts will be automatically enacted. excuse me, that fiscal cough i told you about. the alternative minimum tax kicks in and put it all together and the results are pretty. the economy would contract by half a percent in 2013. unemployment would raise to 9.1% and the economy would experience what cbo said would be judged as a recession. but after that, then things start to look pretty good. the cbo says after next year by the agency's estimates economic growth will pick up. the labor market will strengthen returning output to its potential level. 5.5% by 2018. essentially if no deal is struck, the federal government would be forced to do what it's refused to do
of the fiscal cliff stuff. do we raise the retirement age to ease our debt? >>> treasury secretary tim geithner will speak later to steve leisman about the fiscal cliff talks. we'll have a preview and discuss what traders want to hear. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. how they'll live tomorrow. for more than 116 years, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ >>> goldman sachs earlier today cutting its outlook for gold and prices are closing right now. we have about a $2 loss in the gold market. sharon epperson is
anything to do with the fiscal cliff and neither does the debt ceiling. this is strictly a matter of statutory provisions that go into effect on january 1st, but they want to burden up this and muddy the water to basically, i think, to refuse to do a deal. >> right. because over in the senate, as i was saying, mitch mcconnell is refusing to even consider the president's proposal to maintain the bush tax cuts for those earning less than $250,000 a year, but to raise taxes on those earning more. now, today short of a sol solution, he offered a series of ideological insults. >> only reasons democrats are insisting on raising rates is because raising rates on the so-called rich is the holy grail of liberalism. their aim isn't job creation. they're interested in wealth destruction. >> sir, can you explain what mr. mcconnell is doing resorting to rants about the holy grail of liberalism when every poll since the election shows that a majority of americans believe support taxes going up on the wealthy for the good of the country. >> mitch is not making in he sense but this is not the fir
of coffee this morning. starbucks ceo has sobering advice to offer on the looming fiscal cliff, that the consequences will be far worse than last year's debt ceiling fight when the u.s. credit rating was downgraded for the first time ever. his message to lawmakers, now is not the time to play politics. it's about doing right by the american people. >> i think if people would get in the room and leave their ego behind, and not be so skewed towards the party but be so sensitive to the lens of the american people, we will have an agreement. >> poppy harlow is joining us with more. we've been talking about how this will affect us. schultz says this goes way beyond our boarders. >> it's global. something that stuck with me talking to him about this, the people who need a deal most will be hurt the most. here's why. >> this single issue has a seismic affect on the rest of the world, that we have never been as connected and the domino effect of a bad outcome here will have significant negative consequences, domestically and around the world, not the least of which will be the level --
debt to the fiscal cliff. what are your thoughts? >> i don't think it matters all that much. i agree with bill clinton's comment from the earlier segment. >> im agreeing with him as a matter of analysis. it doesn't appear that obama is aiming to do something big and constructive here. he is aiming for a victory on a small point of dispute. that is sort of the lowest common denominator. that is what both sides can agree upon. since obama doesn't seem to want to give anything to the republicans, that is where i think it will end up. lou: where do you think they will end up in a war that we will end up, far more importantly? >> i think that is a great question. i don't think anybody knows. to the point of the testing, i thought the interesting point was made by president obama at the business roundtable. working towards john engler his possession to extend debt ceiling providers. that is what we are talking about. >> what is broken is taxes and the dead and spending cuts. if the president were honest and in good faith, he wouldn't be needing with a roundtable. he would be up to capitol
-called fiscal cliff. the president has set a goal. $4 trillion in debt reduction over the next decade. are there any specific ways of reaching that figure that both of you might agree on? >> well, you know, one compromise i can agree with democrats on, we need to cut military spending. so i think the compromise is conservatives like myself who think national defense is very important should compromise on military spending and liberals should compromise on entitlements and social welfare spending, that compromise should get to spending cuts. >> here is the question, though. both sides are going to have to compromise, beyond defense spending, any other compromise you could see you supporting? >> mostly has to be to me on the spending side. we used to spend about 20% of gdp. now spending 25% of gdp. federal spending has gone up at an alarming rate in the last four years. people come to me and said say we have to raise taxes on rich people. one there, is not enough money. two, when you raise rates, you get less revenue. sometimes you find when you lower rates, you get more revenue. >> wha
for the middle class. >>heather: thank you. >>gregg: from the fiscal cliff to will i don'ting the debt ceiling speaker boehner disagreeing with president obama under the white house proposal. the president would have the power to raise the debt limit on his own, whenever he wants, as needed. speaker boehner saying congress isn't budging on that issue and here is what he had to say on fox news sunday. >> congress will never give up the power and i made it clear to the president that when we get to the debt limit we need to cut some reforms that are greater than the increase in the debt limit. it is the only way to leverage the political process to produce more change than if left alone. >>gregg: you can see more of the remarks on "fox news sunday" at the top of the hour. >> extreme weather on the west coast flood advisories in effect for storm ravaged parts of northern california as another storm bringing heavy rain and police and fire officials wanting the napa and russian rivers expected to break their banks. and now, streaming live from northern california. >>reporter: yes, the banks are abo
with the fiscal cliff that obama designed? this is obama's fiscal cliff. if the republicans cave, we'll have a fiscal cliff in about three or four years that's going to be the grand canyon. we're going to go collapsing. it's going to be awful. >> sean: i agree with you. >> we got to fight like william wallace in "brave heart." fight for america. we can win it in the next 30 days. >> sean: i'm with you. leslie, seriously, why can't we have some significant spending cuts now? the president, first of all, said he only wanted $800 billion when he was running, now he's doubled it, but there's no cuts. government can't find waste, fraud, abuse, cut back on their intoxication and power grab with spending? >> i agree that medicare is one program that has a lot of fraud. quite frankly the president has been very clear that they're going to be -- >> sean: when? when? >> democrats and republicans will have to suck it up. when you guys call caving in, i call compromise. >> sean: republicans compromise, cave, and -- >> we're not violating the tax pledge if we let something expire at the end of the year.
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characterized this fight over the fiscal cliff but alan simpson managed to do it with a video promoting had is campaign to fix the debt. >> stop instagramming your breakfast and tweeting your problems and getting on youtube so you can see gangnam style. ♪ and start using those precious social media skills to go out and sign people up on this baby, three people a week, let it grow, and don't forget take part or get taken apart. by these old ones will clean out the treasury before you get there. ♪ >> [ inaudible ]. >> the lasso again and then the horseback. horse horse. the cowboys ride. >> it made my day. i had to share it with you. chris cizilla an msnbc contributor and managing editor of post politics.com and susan page, washington bureau chief for "usa today." hello. alan simpson never fails. >> i was instagraming, andrea. i was busy instagraming. >> chris, maybe this do broke through. put him on the road, have him go door to door. >> my favorite part of the video which i have watched approximately 1,000 times is when he says at the end, so another lasso then. >> and he is a man who k
of the president's opening gambit in the fiscal cliff talk. he wants a $1.6 trillion tax increase, 50 billion and stimulus spending. and the white house has the ability to raise the debt ceiling without congressional approval. a ry big deal for folks there. today, the presidt is out there, trying to drum up support among the public. not in washington or with congress or the senate. here is what he had to say. >> it is not acceptable to me, and i do not think it is acceptable to you for a handful of republicans in congress will middle-class tax cuts hostage simply because they don't want tax rates on upper income folks go up. gerri: it sounds like the same old, same old. the president has been making the same comments again. is this any way to sell a plan? >> there really is not. the president is not being serious about this. the fact that the president is out there campaigning on this rather than negotiating, it means that those that are negotiating, such as secretary geithner, they probably don't feel bound by what the president is saying. this is the first gammons and certainly not a seriou
will not play that game. >> tonight, democratic whip steny hoyer gives me the latest fiscal cliff developments and the democratic line on medicare. tomç perriello from the centerf american progress action fund on how democrats can deal with republicans who can't deal with reality. rubio and ryan reload with a new message for the middle class. >> both parties tend to divide americans into our voters and their voters. >> but there is no escaping their own policies. >> we're going to a majority of takers versus makers in america. >> dnc chair debbie wasserman schultz responds tonight. plus, senator barbara boxer on her new plan for national polling place standards. and a new poll shows half of all republicans think the defunct group a.c.o.r.n. stole the election from president obama. >> that's an eye opener. >> i wonder where they ever got that idea? >> you just have to wait and see what happens. >>> good to have you with us tonight, folks. thanks for watching. here is are the latest. republicans are at a stalemate with the white house for debt negotiations. republicans really only have two opt
, brooke. the white house thinks of the debt ceiling as part three of a three-step solution to the fiscal cliff. they are asking that any deal that they cut with the republicans include some mechanism that is a permanent solution to avoid a debt ceiling nightmare, like we had last year. here's what president obama said when he spoke to business ceos about this earlier today. >> i want to send a very clear message to people here, we are not going to play that game next year. if congress in any way suggests that they're going to tie negotiations to debt ceiling votes, and take us to the brink of default once again, as part of a budget negotiation, which, by the way, we have never done in our history, until we did it last year, i will not play that game. because we have got to break that habit before it starts. >> reporter: so just to be very clear, the white house sees this as three steps. a fiscal deal would include, one, some measure that would raise revenue. tax raising. two, a sequester, that's all those budget cuts that are going to kick in, some way to save money through spending cuts
avoid the fiscal cliff, the fact that the republicans put out an offer, like their old offer before the president won re-election, it does feel like the two sides are talking, but they appear to be talking past each other. the clock is ticking in washington. ticking against a dealing. i think the two sides seem to hate each other more than ever. i don't now, it seems like the last 72 hours i was hoping it was going to get better and it seems like it got worse. i spent a ton of time this weekend hanging with old college chum, grover norquist. he's as certain as ever that republicans who have impure thoughts about violating his no new tax pledge will be targeted at the primary level by tea party members. i'm taking this masterful behind-the-scenes player at his word that he controls almost all the republicans. because almost all of them signed his oath. so a deal could be tough. plus i'm now calling for no vacation without legislation. no vacation without legislation. because the holidays are slated to begin in a couple of weeks. which doesn't give enough time to get the job done. so
for joining us this morning. we appreciate it. >>> 33 days until the fiscal cliff. we just keep talking about this. while politicians try to sell their plans of first big negotiations get under way with treasury secretary tim geithner headed to capitol hill for separate meetings with congressional leaders. we'll have much more on "starting point" as well. >> and best advice before we go, too. don't go away. ♪ ♪ make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. with scottrader streaming quot
think the president understands what needs to be done to not only take care of the fiscal cliff but also take care of the concerns of the job creators, you know, make sure that the economy not only -- not only that we move towards a more balanced approach towards solving the debt but also that we grow the economy? did he seem to get that yesterday? >> yeah, i think without a doubt, he understood that the fiscal cliff issue was just short term in nature. it's something that needed to get moved on. but the bigger issue was still tax reform for business, making sure that businesses could be globally competitive, dealing with the immigration issues and s.t.e.m. and moving on with regulation because ultimately he did ak knowledge that it is the business community that creates jobs, and jobs are the path to growth, and growth is the path to more revenue. absolutely. >> let's go to pulitzer prize winner, jonathan capehart. jonathan, i tell you what, pieae is breaking out all over the place, howard dean admitted that we had to cut medicare. michael steele admitted we had to raise taxes. and you
with a lot of ceos, a lot of corporate boards. from your perspective, what impact is the fiscal cliff having with regard to the situation? we've seen today a number of special dividends announced, debt finance acceleration of special dividends. what is your perspective on this and the impact on corporate leaders and boards? >> you know, i think it's quite fluid. even quite fluid with individuals. you had steve ratner on here last week. he went over right after you the next day and his predictions where consumer is strong and we're seeing a big gap between where ceos are who are much more pessimistic. as steve was arguing, they're holding back and expecting the cliff is going to come and we're going to go over the cliff and the consumer and the individual investor in some cases don't understand that. and yet i just saw yesterday on another network, steve ratner was saying, you know what? i'm hearing different things now. it looks like we may, in fact, somehow keep this from careening off the cliff. so we're seeing an awful lot of people that are unsure how to read this in the course of a day.
have no idea how we're going to pay for them. we have a fiscal cliff which we describe now that everybody's talking about at the end of this year, that's not the cliff. the cliff is the unsustainable debt we have. and unless, in my estimation, a lot of economists, you're not going to put us on a path to prosperity unless you take about $9 trillion out over the next ten years. and we're barely talking $4 trillion. >> yeah, nobody's talking $9 trillion. >> yeah. and $9 trillion is the only thing that actually solves this. so we're sitting here as a country, we have made commitments that have to be rearranged and made more efficient. we have a tax structure that is subpar to what we need for our economy in terms of our historical averages. and nobody's talking long run. everybody's talking december 31st. >> i know. you see john boehner's proposal, he was very critical of the president's proposaproposal, it nonstarter, but boehner comes out talking cutting $2.2 trillion. you talk about $9 trillion needed over the next ten years. look at the past four years. we've almost added $
to that is the administration prepared to go over the fiscal cliff. >> we face no prospect of agreement that doesn't involve the rates going up on the top two percent. >> brian: he also said he believes that the president needs to get control of the debt limit. that is a nonstarter. there is no way to get congress to give up control of debt limit. >> steve: republicans are saying let's cave and surrender on the tax issue. but coming up in 2013 we have leverage over the debt limit. remember the president of the united states his personal approval ratings went in the toilet. >> brian: as is the congress. >> steve: the congress didn't have as far to because they were close to the floor anyway. republicans say let's have leverage next time and the president said let's take that off of the table and from now on the president doesn't have to negotiate from congress. congress doesn't like that one bit. >> gretchen: usually when you are holding the cards in the negotiation you don't have to budge. that's the position the president and time geithner feel. they feel they hold the cards and they won the election and t
Search Results 0 to 24 of about 25 (some duplicates have been removed)